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As working caregivers, we often have extra pressure around tax time. Even a simple tax situation can be very daunting as we are simultaneously working, caregiving, organizing our own and organizing our loved ones’ taxes! The good news is there may be some ways to ease the burden for your loved ones. Here is my short Taking Care with Amy Goyer: Caregiving and Taxes video with a few tips on handling this stressful time of year, which you may have …
Instead of leaning on each other in their golden years, divorced parents may lean more heavily on grown children for care and support. Experts say adults whose parents are divorced should be prepared for the extra time and financial demands that aging and unmarried parents could require.
Anyone who has or may someday have family in a nursing home, take note: A mandatory arbitration agreement is probably not in your loved one’s best interest. Though such agreements are becoming increasingly common at nursing homes and assisted living facilities, there’s good reason for family members of residents not to sign.
Whither boomer’s inheritances? Not coming, perhaps. “The post-war generation is living longer and increasingly using their savings to live out their retirement,” the Wall Street Journal notes. Which could mean many boomers are in for an unpleasant wake-up call soon.
If you have children, you’ve probably thought about who would care for them should something happen to you. But have you thought of who might care for aging parents? Today’s society demands “new considerations” when it comes to estate planning, says the BMO Retirement Institute. The group’s new report, “Estate planning in the 21st century: New considerations in a changing society,” instructs Americans to review estate plans to factor in parents, pets and technology.
The email is intriguing: My friend is gathering a group who are grappling with caregiving issues for a brainstorming dinner at her home. She feels overwhelmed, with a job and husband in Boston and very ill parents in Connecticut. Not only do I write about caregivers, but I’ve been one for 14 years straight (first my father, then my mother, now my mother-in-law). I’ve never met the others at the dinner table. At 58, I’m the baby, while one of …